SefeTrans: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SefeTrans
Largest movements
- Receivables after one year +€82,425
up €82,425 (+95.4%), from €86,437 to €168,862
- Tangible fixed assets +€58,827
up €58,827 (+1908.8%), from €3,082 to €61,909
- Receivables within one year +€33,540
up €33,540 (+13.7%), from €244,650 to €278,190
of which Trade receivables: +€27,540
- Cash -€15,129
down €15,129 (-99.9%), from €15,148 to €20
mainly Receivables after one year (-€82,425) and Investment in fixed assets (net) (-€62,686)
- Reserves +€78,921
up €78,921 (+43.7%), from €180,400 to €259,322
- Tax, wage and social debts +€42,821
up €42,821 (+44.3%), from €96,633 to €139,453
of which Remuneration and social security: +€59,482
- Trade debts +€41,750
up €41,750 (+58.6%), from €71,210 to €112,960
- Gross operating margin -€47,393
down €47,393 (-19.9%), from €237,829 to €190,436
- Staff costs -€19,255
down €19,255 (-17.5%), from €109,954 to €90,699
- Taxes -€6,890
down €6,890 (-25.1%), from €27,500 to €20,610
- Depreciation +€3,618
up €3,618 (+1497.7%), from €242 to €3,859
- Financial income +€2,686
up €2,686 (+234.6%), from €1,145 to €3,830
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €350,742 | €514,235 | +€163,492 | +46.6% |
| Fixed assets | 21/28 | €3,082 | €61,909 | +€58,827 | +1908.8% |
| Tangible fixed assets | 22/27 | €3,082 | €61,909 | +€58,827 | +1908.8% |
| Furniture and vehicles | 24 | €3,082 | €61,909 | +€58,827 | +1908.8% |
| Current assets | 29/58 | €347,661 | €452,326 | +€104,665 | +30.1% |
| Amounts receivable after more than one year | 29 | €86,437 | €168,862 | +€82,425 | +95.4% |
| Other amounts receivable | 291 | €86,437 | €168,862 | +€82,425 | +95.4% |
| Amounts receivable within one year | 40/41 | €244,650 | €278,190 | +€33,540 | +13.7% |
| Trade receivables | 40 | €244,650 | €272,190 | +€27,540 | +11.3% |
| Other amounts receivable | 41 | - | €6,000 | +€6,000 | |
| Cash at bank and in hand | 54/58 | €15,148 | €20 | -€15,129 | -99.9% |
| Deferred charges and accrued income | 490/1 | €1,425 | €5,255 | +€3,829 | +268.7% |
| Total equity and liabilities | 10/49 | €350,742 | €514,235 | +€163,492 | +46.6% |
| Equity | 10/15 | €182,900 | €261,822 | +€78,921 | +43.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €180,400 | €259,322 | +€78,921 | +43.7% |
| Distributable reserves | 133 | €180,400 | €259,322 | +€78,921 | +43.7% |
| Amounts payable | 17/49 | €167,842 | €252,413 | +€84,571 | +50.4% |
| Amounts payable within one year | 42/48 | €167,842 | €252,413 | +€84,571 | +50.4% |
| Trade debts | 44 | €71,210 | €112,960 | +€41,750 | +58.6% |
| Suppliers | 440/4 | €71,210 | €112,960 | +€41,750 | +58.6% |
| Taxes, remuneration and social security | 45 | €96,633 | €139,453 | +€42,821 | +44.3% |
| Taxes | 450/3 | €75,763 | €59,103 | -€16,661 | -22.0% |
| Remuneration and social security | 454/9 | €20,869 | €80,351 | +€59,482 | +285.0% |
| Remuneration, social security and pensions | 62 | €109,954 | €90,699 | -€19,255 | -17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €242 | €3,859 | +€3,618 | +1497.7% |
| Other operating charges | 640/8 | €503 | - | -€503 | |
| Gross operating margin | 9900 | €237,829 | €190,436 | -€47,393 | -19.9% |
| Operating profit (loss) | 9901 | €127,131 | €95,878 | -€31,253 | -24.6% |
| Financial income | 75/76B | €1,145 | €3,830 | +€2,686 | +234.6% |
| Recurring financial income | 75 | €1,145 | €3,830 | +€2,686 | +234.6% |
| Financial charges | 65/66B | €156 | €177 | +€21 | +13.6% |
| Recurring financial charges | 65 | €156 | €177 | +€21 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | €128,120 | €99,531 | -€28,588 | -22.3% |
| Income taxes | 67/77 | €27,500 | €20,610 | -€6,890 | -25.1% |
| Profit (loss) for the period | 9904 | €100,620 | €78,921 | -€21,698 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €100,620 | €78,921 | -€21,698 | -21.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.